Array Technologies (ARRY) Stock Price, News & Analysis

Company Overview

Array Technologies, Inc. manufactures and sells ground-mounting tracking systems used in solar energy projects in the United States, Spain, Brazil, Australia, and internationally. The company operates in two segments, Array Legacy Operations and STI Operations. Its products portfolio includes DuraTrack HZ v3, a single axis tracker; Array STI H250 that delivers a lower levelized cost of energy with tracker system; Array OmniTrack; and SmarTrack, a software product that uses site-specific historical weather and energy production data in combination with machine learning algorithms to identify the optimal position for a solar array in real time to enhance energy production. Array Technologies, Inc. was incorporated in 1987 and is headquartered in Albuquerque, New Mexico.

Key Stats

• Today's Range: $5.26 to $5.80
• 50-Day Range: $5.16 to $7.63
• 52-Week Range: $5.15 to $17.75
• Volume: 7.28 million shs
• Average Volume: 6.03 million shs
• Market Capitalization: $855.44 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $11.43
• Consensus Rating: Hold

Array Technologies Stock Analysis - MarketRank™

Array Technologies scored higher than 81% of companies evaluated by MarketBeat, and ranked 78th out of 271 stocks in the oils/energy sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.2 / 5
• Analyst Rating: Hold

Consensus Rating

Array Technologies has received a consensus rating of Hold. The company's average rating score is 2.42, and is based on 11 buy ratings, 12 hold ratings, and 1 sell rating.

Amount of Analyst Coverage

Array Technologies has been the subject of 13 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 31.58%

Earnings Growth

Earnings for Array Technologies are expected to grow by 31.58% in the coming year, from $0.57 to $0.75 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Array Technologies is -5.80, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Array Technologies is -5.80, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Growth Ratio

Array Technologies has a PEG Ratio of 0.84. PEG Ratios below 1 indicate that a company could be undervalued.

Price to Book Value per Share Ratio

Array Technologies has a P/B Ratio of 3.29. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

14.42% of the outstanding shares of Array Technologies have been sold short.

Short Interest Ratio / Days to Cover

Array Technologies has a short interest ratio ("days to cover") of 3.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Array Technologies has recently decreased by 1.17%, indicating that investor sentiment is improving.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Array Technologies does not currently pay a dividend.

Dividend Growth

Array Technologies does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

14.42% of the outstanding shares of Array Technologies have been sold short.

Short Interest Ratio / Days to Cover

Array Technologies has a short interest ratio ("days to cover") of 3.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Array Technologies has recently decreased by 1.17%, indicating that investor sentiment is improving.

News and Social Media

• Score: 1.2 / 5
• News Sentiment: 0.23

News Sentiment

Array Technologies has a news sentiment score of 0.23. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.64 average news sentiment score of Oils/Energy companies.

News Coverage This Week

MarketBeat has tracked 2 news articles for Array Technologies this week, compared to 3 articles on an average week.

Search Interest

Only 9 people have searched for ARRY on MarketBeat in the last 30 days. This is a decrease of -25% compared to the previous 30 days.

MarketBeat Follows

Only 5 people have added Array Technologies to their MarketBeat watchlist in the last 30 days. This is a decrease of -17% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: Acquiring Shares

Insider Buying vs. Insider Selling

In the past three months, Array Technologies insiders have bought more of their company's stock than they have sold. Specifically, they have bought $129,697.00 in company stock and sold $0.00 in company stock.

Percentage Held by Insiders

Only 0.31% of the stock of Array Technologies is held by insiders.

ARRY Stock Analysis - Frequently Asked Questions

How have ARRY shares performed this year?

Array Technologies' stock was trading at $16.80 at the beginning of 2024. Since then, ARRY stock has decreased by 66.5% and is now trading at $5.63.
View the best growth stocks for 2024 here.

How were Array Technologies' earnings last quarter?

Array Technologies, Inc. (NASDAQ:ARRY) released its earnings results on Thursday, August, 8th. The solar tracking solution reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09. The firm's revenue for the quarter was down 49.6% on a year-over-year basis.

When did Array Technologies IPO?

Array Technologies (ARRY) raised $676 million in an initial public offering (IPO) on Thursday, October 15th 2020. The company issued 33,800,000 shares at a price of $19.00-$21.00 per share. Goldman Sachs, JPMorgan Securities, Guggenheim Securities and Morgan Stanley served as the underwriters for the IPO and Credit Suisse, Barclays and UBS Investment Bank were co-managers.

Who are Array Technologies' major shareholders?

Top institutional shareholders of Array Technologies include Hill City Capital LP (9.39%), BNP PARIBAS ASSET MANAGEMENT Holding S.A. (4.35%), Swedbank AB (2.55%) and Swedbank AB (2.55%). Insiders that own company stock include Kevin G Hostetler, Kenneth R Stacherski, Nipul M Patel, Tyson Hottinger, Erica Brinker, Gerrard Schmid and Neil Manning.
View institutional ownership trends.

How do I buy shares of Array Technologies?

Shares of ARRY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Array Technologies own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Array Technologies investors own include Symbotic (SYM), JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), Voya Infrastructure, Industrials and Materials Fund (IDE), NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD) and First Solar (FSLR).

Company Calendar

• Last Earnings: 8/08/2024
• Today: 12/22/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Oils/Energy
• Industry: Miscellaneous manufacturing industries
• Sub-Industry: Electric Utilities
• Current Symbol: NASDAQ:ARRY
• CUSIP: 04269X10
• CIK: 1100412
• Web: arraytechinc.com
• Phone: 505-881-7567
• Fax: N/A
• Employees: 1,028
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $11.43
• High Stock Price Target: $18.00
• Low Stock Price Target: $6.00
• Potential Upside/Downside: +103.0%
• Consensus Rating: Hold
• Rating Score (0-4): 2.42
• Research Coverage: 24 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($0.97)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: 9.88
• P/E Growth: 0.84
• Net Income: $137.24 million
• Net Margins: -9.59%
• Pretax Margin: -7.96%
• Return on Equity: 75.57%
• Return on Assets: 8.71%

Debt

• Debt-to-Equity Ratio: 10.05
• Current Ratio: 2.41
• Quick Ratio: 1.88

Sales & Book Value

• Annual Sales: $982.19 million
• Price / Sales: 0.87
• Cash Flow: $1.80 per share
• Price / Cash Flow: 3.12
• Book Value: $1.71 per share
• Price / Book: 3.29

Miscellaneous

• Outstanding Shares: 151,943,000
• Free Float: 151,472,000
• Market Cap: $855.44 million
• Optionable: Optionable
• Beta: 1.61